Market Statistics - Year End 2018

The market in 2018 was relatively stable with small increases in prices and slight decreases in number of sales. The prediction for 2019: stability – in both prices and number of sales. Mortgage interest rates are still historically low and the outlook for Santa Barbara looks good for 2019. Existing-home sales rebounded strongly in February, experiencing the largest month-over-month gain since December 2015, according to the National Association of Realtors®. Locally, it is considered a "balanced" market this year where it is not just a buyers market or sellers market, but equal  opportunities for both. The Fed announcement that there won't be any interest rate increases this year is great for the real estate market. Prices are expected to stay fairly stable, and listings that are priced well are selling quickly, some with multiple offers.  It's a good time to buy and a good time to sell!